Monterey Private Wealth Inc. Raises Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Monterey Private Wealth Inc. grew its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 20.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,544 shares of the financial services provider’s stock after acquiring an additional 1,605 shares during the quarter. JPMorgan Chase & Co. comprises about 0.8% of Monterey Private Wealth Inc.’s investment portfolio, making the stock its 24th biggest holding. Monterey Private Wealth Inc.’s holdings in JPMorgan Chase & Co. were worth $2,288,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its position in JPMorgan Chase & Co. by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,450,775 shares of the financial services provider’s stock worth $938,491,000 after purchasing an additional 319,730 shares during the period. Sageworth Trust Co grew its holdings in shares of JPMorgan Chase & Co. by 37.9% in the third quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock worth $603,000 after acquiring an additional 786 shares during the period. Kingsview Wealth Management LLC increased its position in JPMorgan Chase & Co. by 2.5% during the third quarter. Kingsview Wealth Management LLC now owns 118,095 shares of the financial services provider’s stock valued at $24,902,000 after acquiring an additional 2,839 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in JPMorgan Chase & Co. by 16.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 692,809 shares of the financial services provider’s stock valued at $143,594,000 after acquiring an additional 95,461 shares during the period. Finally, Zions Bancorporation N.A. grew its stake in shares of JPMorgan Chase & Co. by 2.5% during the 3rd quarter. Zions Bancorporation N.A. now owns 11,157 shares of the financial services provider’s stock valued at $2,353,000 after purchasing an additional 267 shares during the period. 71.55% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on JPM shares. Oppenheimer downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 20th. Bank of America boosted their price objective on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Royal Bank of Canada raised their target price on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Wells Fargo & Company boosted their price target on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Daiwa Capital Markets decreased their price objective on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $251.78.

View Our Latest Stock Analysis on JPM

Insider Buying and Selling

In other news, General Counsel Stacey Friedman sold 3,303 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total value of $838,763.82. Following the completion of the sale, the general counsel now directly owns 47,620 shares of the company’s stock, valued at $12,092,622.80. This trade represents a 6.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.79% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Price Performance

NYSE:JPM opened at $264.66 on Friday. The business’s 50-day moving average is $245.28 and its 200 day moving average is $225.83. JPMorgan Chase & Co. has a 12 month low of $170.90 and a 12 month high of $267.10. The company has a market capitalization of $745.09 billion, a P/E ratio of 13.41, a P/E/G ratio of 2.83 and a beta of 1.11. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, beating analysts’ consensus estimates of $4.03 by $0.78. The firm had revenue of $42.77 billion during the quarter, compared to analyst estimates of $41.90 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. JPMorgan Chase & Co.’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period last year, the firm posted $3.04 earnings per share. On average, equities research analysts forecast that JPMorgan Chase & Co. will post 17.82 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Monday, January 6th. JPMorgan Chase & Co.’s payout ratio is 25.33%.

About JPMorgan Chase & Co.

(Free Report)

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.

Read More

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPMFree Report).

Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.